Bill > SB216

This bill creates the Second Amendment Financial Privacy Act, which aims to protect firearms retailers and customers from potential discrimination by financial institutions when processing payment card transactions. The bill defines several key terms, including "financial institution" as any entity involved in processing payment card transactions, and "firearms merchant category code" as a specific code used to identify merchants selling firearms or related accessories. The legislation prohibits financial institutions from requiring or using a specific merchant category code that would distinguish firearms retailers from other retailers, and prevents them from declining lawful payment card transactions solely based on such a code. The bill also restricts financial institutions from disclosing financial records collected in violation of the act, with limited exceptions for fraud prevention or legal compliance. If a violation occurs, the attorney general is empowered to investigate, issue written notices, and potentially pursue legal action, including seeking injunctions and civil penalties up to $10,000 per violation. The law is designed to protect the rights of businesses and individuals involved in legal firearm-related transactions by preventing potential financial discrimination based on their business or purchasing activities.

Transportation and Infrastructure

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=157